Annuity contracts allow for 10% of the account value to be withdrawn annually, this can be done all at one or more than once. If an annuity is used as an income stream, surrender penalties are waived. In the event of death almost always surrender penalties are waived for the beneficiary. In addition, most contracts allow for access to the account funds in the event of long term illness or terminal illness.
Our product has evolved into the mainstream (or vice versa) of important retirement planning. It now offers guaranteed income riders that have changed the way retirement is planned. And yet, it was only ten years ago at a meeting in Des Moines when Sheryl Moore first suggested that a guaranteed income rider sitting on the [...]